HDFC completes 22.9% stake sale in HDFC ERGO to foreign partner

The foreign partner has paid Rs 1,122 cr for the additional stake

Housing  Development  Finance  Corporation  Limited  (HDFC) today said that it has completed sale of 22.9% of its stake in HDFC ERGO General Insurance to Germany-based ERGO Insurance Group.

Now, HDFC will hold 50.73% while ERGO will hold 48.74%. The foreign partner has paid Rs 1,122 crore for the additional stake (22.9%), valuing the insurer at Rs 4,900 crore. This deal was announced in December 2015.